Worried that student founders have become so absorbed in their fledgling companies that they are missing out on course work, Stanford’s business school is asking students to curb their startup ambitions.

The outgoing dean of Stanford University’s business school helped land big donations and win accolades for the M.B.A. program. Now, facing a lawsuit, some former employees have criticized his management style.

Business schools used to assume candidates who waited until the last minute to apply were disorganized, undesirable or both. Now, applying in later rounds of the M.B.A. admissions cycle might signal an offbeat catch.